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163 Rivington Street, New Y...

Updated Oct 13, 2026

Witnick Real Estate Partners Acquires Multifamily Property In Lower East Side For $8.3M
SOLDMultiFamily

Witnick Real Estate Partners Acquires Multifamily Property In Lower East Side For $8.3M

163 Rivington Street, New York City, New York 10002, United States

$8,300,000

$628/SF

Building Size

13,211 SF

Asset Type

MultiFamily

Closing

Jul 20, 2022

About this deal

AI

Located in the vibrant Lower East Side market, the multifamily property at 163 Rivington Street has recently changed hands. The sale, which took place on July 21, 2022, involved the buyer Witnick Real Estate Partners and the seller Gilman Management Corp. The property comprises 20 units, with an average price per unit (PPU) of $415,000. Spanning across 13,211 square feet, the property boasts a price per square foot (PPSF) of $628.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,300,000
  • Address: 163 Rivington Street
  • Market: Lower East Side
  • Buyer: Witnick Real Estate Partners
  • Seller: Gilman Management Corp.
  • Units: 20
  • PPU: $415,000
  • SF: 13,211
  • PPSF: $628

Witnick Real Estate Partners acted as the buyer in this transaction, while Gilman Management Corp. represented the seller. This successful deal signifies the ongoing activity within the Lower East Side market and showcases the value of this well-located multifamily asset.

On the Map

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$8,300,000

$628/SF

MultiFamily

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Players

GM
Gilman ManagementBuyer
GM
Gilman ManagementSeller
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $628 per square foot on a published $8.3M for 13,211 square feet (2022).

Browse New York multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.91%

Cash-on-Cash

-0.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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